Zetwerk Q2 FY27 results show wider net loss as revenue rises after IPO listing

Zetwerk Manufacturing Businesses reported a wider consolidated net loss of Rs 88.11 crore for the July-September quarter of FY27. The loss increased from Rs 61.55 crore in the same quarter last year. Revenue from operations rose 18.3 per cent to Rs 4,599.36 crore. It had stood at Rs 3,889.26 crore in Q2 FY26.

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Compared with the April-June quarter, the loss narrowed from Rs 732.98 crore. Revenue also increased 11.7 per cent on a sequential basis. The company said the September-quarter loss included Rs 34.29 crore from discontinued operations. Zetwerk operates across energy, precision, and capital goods.

Zetwerk net loss details and discontinued operations

Zetwerk classified its civil infrastructure works business as a discontinued operation. The company’s filing said the June-quarter loss from that business included a provision of about Rs 639 crore. The September quarter reflected a smaller impact from the discontinued unit. The update formed part of Zetwerk’s consolidated quarterly financial results.

Zetwerk revenue growth and manufacturing order book

The company reported new orders worth Rs 4,613 crore during the quarter. This was a 44 per cent rise compared with the year-ago period. Zetwerk said this lifted its manufacturing order book to Rs 14,595 crore. The order book was up 67 per cent from a year earlier.

"Our first half shows what we have been building towards... Gross profit grew faster than revenue, driven by design-led products ODM, international customers, in-house manufacturing and higher-margin categories. Our manufacturing order book is at an all-time high of Rs 14,595 crore, and repeat customers contributed 83 per cent of first-half revenue. Our ambition is to make manufacturing boringly predictable, and we want to bring that same consistency to our shareholders, Zetwerk co-founder and CEO Amrit Acharya said.\"

Zetwerk IPO, listing, and anchor investors

These were Zetwerk’s first quarterly results since listing on BSE and NSE on October 23. The listing followed the company’s initial public offering. The IPO was subscribed 3.06 times on the final day of bidding. The issue price band was set at Rs 143-151 per share.

The public issue included a fresh issue of equity shares worth Rs 2,830 crore. It also included an Offer For Sale of 14.45 crore equity shares by existing shareholders. Zetwerk raised Rs 2,251.23 crore from anchor investors. The anchor list included BlackRock, Goldman Sachs, and Nomura.

The quarterly update showed higher revenue alongside a year-on-year increase in losses. It also showed a sharp sequential improvement in the net loss figure. Zetwerk linked part of earlier volatility to the civil infrastructure works business now marked discontinued. The company also highlighted stronger orders, taking its manufacturing order book to Rs 14,595 crore.

With inputs from PTI